Nike, AMD, KB Home and Vail Resorts Rise

Bikram Pandey
24 Sep, 2010
New York City

Advanced Micro soared nearly 5% after it lowered the sales outlook but ahead of expectations. Nikes surged after it reported better than expected earnings on 25% increase China orders. KB Home increased after it narrowed quarterly loss.

[R]11:05 AM New York – Advanced Micro soared nearly 5% after it lowered the sales outlook but ahead of expectations. Nikes surged after it reported better than expected earnings on 25% increase China orders. KB Home increased after it narrowed quarterly loss.[/R]

Of the stocks in the Dow, 30 increased, none decreased and none were unchanged.

Of the 30 stocks in the Dow Jones Industrial Average, Hewlett-Packard Company led the gainers with a rise of 3.21% followed by increase in Alcoa Inc. of 3.15%, in Caterpillar Inc. of 2.82%, in The Boeing Company of 2.70%, United Technologies Corporation of 2.32%.

Other Movers

Advanced Micro Devices, Inc ((AMD)) soared 4.7% or 30 cent to $6.70 after the semiconductor maker lowered its revenue outlook for the third quarter, due to weaker than expected demand, particularly in the consumer notebook market in Western Europe and North America.

The company estimates revenue to decline in the range of 1% to 4% or $1.58 billion to $1.63 billion for the third quarter.

Ameron International Corporation ((AMN)) gained 4% or $2.59 to $65.95 after the manufacturer engineering products reported third quarter sales was $134.2 million compared to $131.4 million in the same quarter a year ago. Net income in the quarter was $8.90 million or 96 cents per diluted share compared with net income of $5.95 million or 64 cents per share for a year ago.

Comtech Telecommunications Corp. ((CMTL)) surged 9.6% or $2.34 to $26.96 after the communications products maker reported fourth quarter net sales surged 111% to $256.95 million from $122.03 million a year ago. Net income in the quarter increased 118% to $13.47 million or 43 cents per share compared with net income of $6.18 million or 21 cents per share in the previous year.

KB Home ((KBH)) increased 2% or 24 cent to $11.95 after the homebuilder said third quarter revenue increased 9% to $501.0 million, from $458.5 million in the third quarter of 2009. Net loss in the quarter narrowed 98% to $1.40 million or 2 cents per diluted share compared with net loss of $66.05 million or 87 cents per share last year.

Neogen Corporation ((NEOG)) rose 2.3% or 75 cent to $33.00 after the food and animal safety testing solutions provider said first quarter revenue advanced 33% to $42.92 million from $32.35 million a year ago. Net income in the quarter increased 32% to $5.82 million or 25 cents per diluted share compared with net income of $4.40 million or 19 cents per share last year.

Nike, Inc. ((NKE)) soared 4.2% or $3.29 to $80.97 after the maker of athletic shoes and apparel said first quarter revenues increased 8% to $5.18 billion from $4.80 billion in the same quarter last year. Net income in the quarter rose 9% to $559 million or $1.14 per share, compared to net income of $513 million or $1.04 per share for the year-ago quarter.

Park Electrochemical Corp. ((PKE)) rose 0.6% or 16 cent to $25.70 after the digital and radio frequency circuit maker said second quarter sales were $54.5 million compared to $42.5 million in the same quarter a year ago. Net earnings in the quarter were $9.45 million or 46 cents per diluted share compared with net income of $4.75 million or 23 cents per share for a year ago.

Rite Aid Corporation ((RAD)), the retail drugstore chain reported said second quarter revenue declined 2.6% to $6.2 billion compared to $6.3 million in the same quarter a year ago. Net loss in the quarter was $197.0 million or 23 cents per diluted share compared with net loss of $116.0 million or 14 cents per share for a year ago.

Scholastic Corporation ((SCHL)) rose 0.1% or 5 cent to $26.77 after the publisher and distributor reported fiscal first quarter revenue was $290.9 million compared to $315.6 million in the same quarter a year ago. Net loss in the quarter was $35.2 million or 98 cents per diluted share compared with net loss of $23.0 million or 63 cents per share for a year ago.

Saba Software, Inc. ((SABA)) plunged 5.2% or 28 cent to $5.10 after a provider of people systems stated fiscal first quarter revenue rose 3.9% to $26.8 million compared to $25.8 million in the same quarter a year ago. Net loss in the quarter was $1.80 million or 6 cents per diluted share compared with net income of $1.02 million or 3 cents per share for a year ago.

Spectrum Control, Inc. ((SPEC)) surged 4.3% or 59 cent to $14.19 after the electronic components and system maker reported third quarter sales was $43.61 million compared to $313.48 million in the same quarter a year ago. Net income in the quarter was $3.9 million or 30 cents per diluted share compared with net income of $2.0 million or 16 cents per share for a year ago.

Texas Industries, Inc. ((TXI)) fell 0.1% or 6 cent to $30.83 after the heavy construction materials maker said first quarter net sales dipped 6.4% to $172.12 million from $183.96 million in the first quarter of the prior fiscal year. Net loss in the quarter was $23.69 million or 85 cents per diluted share, compared to net income of $1.72 million or 6 cents per share in the previous year.

The Finish Line, Inc. ((FINL)) plunged 9.5% or $1.49 to $14.20 after the mall-based specialty retailer stated second quarter net sales edged higher 0.8% to $301.1 million from $298.7 million a year-ago. Comparable store net sales increased 2%. Net profit for the period was $16.8 million or $.31 per share, compared to a net loss of $0.87 million or $0.02 per share in last year period.

Tibco Software Inc. ((TIBX)) spurted 10.1% or $1.65 to $18.02 after the provider of infrastructure software reported third quarter revenue increased 23% to $184.48 million from $150.25 million last year. Net income in the quarter rose 17% to $17.35 million or 10 cents per diluted share compared with net income of $14.87 million or 9 cents per share in the previous year.

Vail Resorts, Inc. ((MTN)) increased 1.6% or 58 cent to $35.98 the mountain resorts operator reported fourth quarter net revenues grew 34.4% to $137.09 million from $101.93 million in the prior year. Net loss in the quarter widened 8.2% to $41.92 million or $1.16 per share, compared to prior year''s loss of $38.73 million or $1.07 per share.